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Clean Air Markets

1998 SO2 Allowance Auction

1998 EPA Allowance Auction Results

Origin of Allowances Spot Auction
(First Usable in 1998)
7-Year Advance Auction
(First Usable in 2005)
EPA 150,000 125,000

Spot Auction Results
Allowances Number of Bids Number of Bidders Bid Price
Bid For: 767,097 Successful: 21 Successful: 11 Highest: $228.92
Sold: 150,000 Unsuccessful: 88 Unsuccessful: 25 Clearing: $115.01
(the clearing price is the lowest price at which a successful bid was made)
Total: 109 Total: 36 Lowest: $56.91
Average (weighted): $116.96

7-Year Advance Auction Results
Allowances Number of Bids Number of Bidders Bid Price
Bid For: 509,009 Successful: 20 Successful: 3 Highest: $115.01
Sold: 125,000 Unsuccessful: 34 Unsuccessful: 9 Clearing: $108.30
(the clearing price is the lowest price at which a successful bid was made)
Total: 54 Total: 12 Lowest: $87.00
Average (weighted): $111.05

Spot Auction Winners
Bidder's Name Quantity Percentage of Total Allowances Amount Paid
Cantor Fitzgerald 110,000 73.33 $12,943,200.00
Allowance Holdings Corporation 39,978 26.65 $4,597,869.78
Vermont Center 10 0.01 $1,155.00
Drake Environmental Law Society 3 <0.1 $346.53
CUNY Environmental Law Students Association 2 <0.1 $250.00
McGeorge Environmental Law Forum 2 <0.1 $250.00
Michael J. Walsh 1 <0.1 $228.92
Carolina Clean Skies 1 <0.1 $150.00
Maria Damon/ Cornell Univ. 1 <0.1 $131.51
Catholic Univ. Environmental Law Society 1 <0.1 $126.90
Univ. of Wisconsin- Madison 1 <0.1 $120.00
Total 150,000 100 $17,543,828.64

7-Year Advance Auction Winners
Bidder's Name Quantity Percentage of Total Allowances Amount Paid
Cantor Fitzgerald 124,995 99.9 $13,880,908.50
Maryland Environmental Law Society 4 <0.1 $446.08
Hatena Environmental Network Japan 1 <0.1 $110.00
Total 125,000 100 $13,881,464.58

Total Auction Proceeds: $31,425,293.22

Spot Auction Bids (First Usable in 1998)

Bids Bidder's Name Quantity Total
$228.92 Michael J. Walsh 1 1
$150.00 Carolina Clean Skies 1 2
$131.51 Maria Damon / Cornell University 1 3
$126.90 Catholic University Environmental Law Society 1 4
$125.00 CUNY Environmental Law Students Association 2 6
$125.00 McGeorge Environmental Law Forum 2 8
$120.03 Cantor Fitzgerald 10,000 10,008
$120.00 University of Wisconsin - Madison 1 10,009
$119.52 Cantor Fitzgerald 10,000 20,009
$119.01 Cantor Fitzgerald 10,000 30,009
$118.76 Cantor Fitzgerald 10,000 40,009
$118.21 Cantor Fitzgerald 10,000 50,009
$117.64 Cantor Fitzgerald 10,000 60,009
$117.16 Cantor Fitzgerald 10,000 70,009
$116.80 Cantor Fitzgerald 10,000 80,009
$116.31 Cantor Fitzgerald 10,000 90,009
$115.76 Cantor Fitzgerald 10,000 100,009
$115.51 Drake Environmental Law Society 3 100,012
$115.50 Vermont Center 10 100,022
$115.12 Cantor Fitzgerald 10,000 110,022
$115.01 Allowance Holdings Corporation* 150,000 260,022

Bids below this line were unsuccessful because they were below the clearing price of $115.01.
 
$114.51   10,000 270,022
$114.05   10,000 280,022
$113.61   10,000 290,022
$113.02   1 290,023
$113.01   10,000 300,023
$112.02   1 300,024
$111.02   1 300,025
$110.13   1 300,026
$110.02   5 300,031
$110.00   2 300,033
$109.02   1 300,034
$108.02   1 300,035
$107.02   1 300,036
$107.00   8 300,044
$105.01   1 300,045
$105.00   10 300,055
$104.31   1,335 301,390
$104.00   500 301,890
$103.50   5,000 306,890
$103.31   1,000 307,890
$103.00   100 307,990
$102.66   5,000 312,990
$102.60   100,000 412,990
$102.50   100 413,090
$102.50   5,000 418,090
$102.02   10,000 428,090
$102.01   2,500 430,590
$102.00   5,000 435,590
$102.00   100 435,690
$102.00   500 436,190
$101.50   100 436,290
$101.12   10,000 446,290
$101.01   5,000 451,290
$101.00   92 451,382
$100.66   5,000 456,382
$100.50   100 456,482
$100.50   5,000 461,482
$100.02   20,000 481,482
$100.01   5,000 486,482
$100.00   5,000 491,482
$100.00   1 491,483
$100.00   100 491,583
$100.00   500 492,083
$100.00   3 492,086
$99.66   5,000 497,086
$99.50   100 497,186
$99.15   2,000 499,186
$99.10   10,000 509,186
$99.01   12,500 521,686
$99.00   6,000 527,686
$99.00   100 527,786
$98.77   1,169 528,955
$98.52   5,000 533,955
$98.50   100 534,055
$98.15   3,000 537,055
$98.10   10,000 547,055
$98.02   10,000 557,055
$98.01   15,000 572,055
$98.00   500 572,555
$97.15   4,000 576,555
$97.10   10,000 586,555
$97.01   25,000 611,555
$96.52   5,000 616,555
$96.50   1,100 617,655
$96.16   1,000 618,655
$96.15   5,000 623,655
$96.10   10,000 633,655
$96.02   10,000 643,655
$96.00   1,000 644,655
$95.15   6,000 650,655
$95.10   10,000 660,655
$95.00   1,289 661,944
$94.52   5,000 666,944
$94.21   10,000 676,944
$94.15   7,000 683,944
$94.02   10,000 693,944
$94.00   1,000 694,944
$93.15   8,000 702,944
$93.00   2,000 704,944
$92.15   9,000 713,944
$92.02   10,000 723,944
$92.00   1,000 724,944
$91.16   1,500 726,444
$91.15   10,000 736,444
$86.16   2,000 738,444
$71.16   3,000 741,444
$60.00   3,000 744,444
$56.91   22,653 767,097

* Awarded a partial fill of 39,978 out of 150,000 allowances bid for.

7-Year Auction Bids (First Usable in 2005)

Bids Bidder's Name Quantity Total
$115.01 Cantor Fitzgerald 5,000 5,000
$114.53 Cantor Fitzgerald 5,000 10,000
$114.01 Cantor Fitzgerald 5,000 15,000
$113.51 Cantor Fitzgerald 5,000 20,000
$113.02 Maryland Environmental Law Society 1 20,001
$113.01 Cantor Fitzgerald 5,000 25,001
$112.51 Cantor Fitzgerald 10,000 35,001
$112.04 Cantor Fitzgerald 10,000 45,001
$112.02 Maryland Environmental Law Society 1 45,002
$111.37 Cantor Fitzgerald 10,000 55,002
$111.02 Maryland Environmental Law Society 1 55,003
$111.01 Cantor Fitzgerald 10,000 65,003
$110.51 Cantor Fitzgerald 10,000 75,003
$110.02 Maryland Environmental Law Society 1 75,004
$110.01 Cantor Fitzgerald 10,000 85,004
$110.00 Hatena Environmental Network Japan 1 85,005
$109.61 Cantor Fitzgerald 10,000 95,005
$109.01 Cantor Fitzgerald 10,000 105,005
$108.74 Cantor Fitzgerald 10,000 115,005
$108.30 Cantor Fitzgerald* 10,000 125,005

Bids below this line were unsuccessful because they were below the clearing price of $108.30.
 
$105.02   125,000 250,005
$103.86   5,000 255,005
$103.06   5,000 260,005
$102.86   4 260,009
$102.48   5,000 265,009
$101.54   5,000 270,009
$100.98   5,000 275,009
$100.69   5,000 280,009
$100.49   10,000 290,009
$100.21   10,000 300,009
$100.01   10,000 310,009
$99.87   10,000 320,009
$99.68   10,000 330,009
$99.59   10,000 340,009
$99.28   5,000 345,009
$98.99   5,000 350,009
$98.54   30,000 380,009
$98.27   30,000 410,009
$97.79   40,000 450,009
$97.66   5,000 455,009
$97.10   400 455,409
$97.01   5,000 460,409
$96.43   5,000 465,409
$95.66   5,000 470,409
$95.10   400 470,809
$94.29   5,000 475,809
$93.10   400 476,209
$91.23   5,000 481,209
$91.10   400 481,609
$91.05   10,000 491,609
$89.69   5,000 496,609
$89.21   10,000 506,609
$89.10   400 507,009
$87.00   2,000 509,009

* Awarded a partial fill of 9,995 out of 10,000 allowances bid for.

An Excel spreadsheet (Excel, 10 MB) provides auction proceeds at the unit and plant level for each year. Download an Excel viewer exit EPA

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